As anticipated, the breakout of the resistance levels on Friday are showing the investor sentiment is now in a new bullish trend. The NASDAQ continues to gap up to the resistance level of the recent highs. The Dow and S&P 500 have broken through the highs. The J-hook pattern in the Dow at the resistance level produced the high probability that the breakout to new highs was about ready to occur. Look for a little bit more upside but then be prepared for some short-term profit-taking.
July 11th Daily Market Comments
As anticipated, the breakout of the resistance levels on Friday are showing the investor sentiment is now in a new bullish trend. The NASDAQ continues to gap up to the resistance level of the recent highs. The Dow and S&P 500 have broken through the highs. The J-hook pattern in the Dow at the resistance level produced the high probability that the breakout to new highs was about ready to occur. Look for a little bit more upside but then be prepared for some short-term profit-taking.